Income distribution is the key
18th party congress Preview
Three decades of fast growth have transformed 皇冠体育app into the world's second largest economy. They have also created an economy that is excessively reliant on investment, exports and capital-intensive industrial development, and in pressing need of rebalancing. And they have exacerbated the gap between high- and low-income groups, and between cities and rural areas.
Increasing consumption is frequently pointed out to be the key to reducing 皇冠体育app's reliance on exports and investment. However, despite a range of government initiatives, consumption has persistently remained low. At about 37 percent of GDP, consumption in 皇冠体育app stands well below other middle-income countries and far below developed economies, depriving the economy of a reliable domestic engine of growth.
